Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The bank KBL has announced to cut about 136 positions by the end of December, out of a total of 1,134 employees, in the framework of a cost saving plan.
The management has negotiated a social plan with the ALEBA union. 30 jobs will be cut through voluntary departures and 106 will be forced dismissals. According to the unions, two-thirds of the dismissed employees are older than 45 years.
The management explained its decision by the crisis in the euro zone and an effort to sell the bank.
Eurofound (2012), KBL, Internal restructuring in Luxembourg, factsheet number 74665, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74665.
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